RUA Life Sciences sees US orders return to pre-Covid levels

Medical device businesses holding company RUA Life Sciences said on Tuesday that orders had returned to pre-Covid-19 pandemic levels.

Order intake from major customers for US supply was said to have now returned to pre-Covid levels, and whilst Europe still had "a little way to go", RUA said early indications from its key customer were that it was anticipating "high single-digit volume growth" over the coming year.

"The board is encouraged by these recent developments as it fits the strategy of RUA Medical, not only being the engine room of in-house projects and manufacture, but of also being a growing profit centre," said RUA.

RUA Life Sciences said "good progress" was being made across all areas of its business and development plans despite the disruption to supply chains due to Brexit and staff shortages at suppliers as a result of Covid.

In terms of research and development, the AIM-listed firm said further progress had been made on the manufacture of heart valve prototypes utilising both its 100% Elast-Eon leaflet system and the textile-reinforced leaflet.

"The testing equipment for both hydrodynamic and durability studies is due for installation and commissioning towards the end of September 2021, and we are looking forward to comparing the performance of the two technology platforms," said RUA.

The group also added that with its large bore graft development work now into production validation, other group R&D projects were now being considered and planned.

As of 1055 BST, RUA shares were up 2.80% at 130.55p.